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UniCredit tops forecasts with record quarter after securing control of Commerzbank

By Reuters News

MILAN, Nov 9 (Reuters) - UniCredit CRDI.MI, Italy's second-biggest bank, on Monday posted a much larger than forecast 24% yearly rise in third-quarter earnings and hiked its full-year profit goal, as it prepares to take the lead at Germany's Commerzbank CBKG.DE.

Net profit in the July-September period rose to €3.3 billion ($3.68 billion), above the €2.8 billion in a company-provided average analyst consensus.

UniCredit now sees its 2026 profit before extraordinary charges well above €11.5 billion while it previously expected it to be worth around that figure.

After securing European Central Bank approval in mid-October to own more than 30% of Commerzbank, UniCredit expects to be able to take control of the rival this year, once it completes the remaining regulatory steps relating to its takeover bid.




($1 = 0.8961 euros)

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